Series 28: Change In Ownership Or Business Operations

Change in Ownership or Business Operations

FINRA also requires members to file an application for approval of any of the following changes to its ownership, control, or business operations:

• • A merger with another member—unless both are members of the New York Stock Exchange or the new entity will continue to be a member of the NYSE
• • An acquisition of another member, unless the acquiring member is a member of the NYSE
• • Acquisitions or transfers of 25% or more of the member’s assets—unless both the seller and acquirer are members of the NYSE
• • A change in a member’s equity ownership or partnership capital that results in one person or entity owning or controlling 25% or more of the equity or partnership capital
• • A material change in busines